Based on the Information Presented in the Textbook, ________ Plans

question 99

Multiple Choice

Based on the information presented in the textbook, ________ plans are short term, specific and standing.

• A)operational
• B)long-term
• C)strategic
• D)specific
• E)directional

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Definitions:

Creditor

An individual or institution that lends money or extends credit, expecting repayment in the future.

Basic Accounting Equation

The Basic Accounting Equation is the foundational principle of double-entry bookkeeping, stating that Assets = Liabilities + Equity, maintaining the balance of a company's financial statements.

Equipment

The tangible assets used in the operation of a business to perform specific tasks, excluding real estate and facilities.

Assets

Resources owned by a company that have economic value and can be used to meet debts, commitments, or legacies.